TOP (Tonga Pa'anga)

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DEFINITION

The currency abbreviation for the Tonga pa'anga (TOP), the currency for Tonga. The Tonga pa'anga is made up of 100 hau and is often presented with either the symbol T$ or PT. The pa'anga is not convertible to any other currencies.

INVESTOPEDIA EXPLAINS

The Tonga pa'anga replaced the Tonga pound at a rate of 2:1 in 1967 and was pegged at par with the Australian dollar. This peg existed until 1991, at which time the currency was pegged to a basket of the Australian dollar, New Zealand dollar, U.S. dollar and Japanese yen.


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